current spread

I see the current spread on GXY on the ASX is
Bid: 1.040
Offer: 0.870

Obviously this is in a closed market, but when it re-opens (likely tomorrow) I would hope for an open near $1 and maybe a rise above $1 in anticipation of large funds buying into the proposed merged company and in anticipation of an update report from Jiangsu.

Time will tell. Very bullish at the moment on GXY, I'm sure there will be no difficulties in securing the $50+ funding. The Creat Group (current majority stakeholder) will be interested in increasing their holding in my opinion. They are very upbeat on the merger:



"CRHL's Chief Operations Officer Mr Rex Chow said: "This is further very encouraging news of Galaxy Recourses. Upon the completion of Merger between Galaxy Recourses and Lithium One, Galaxy Resources will become the largest pure Lithium Player in the world with combined assets covering diversified lithium resources. As the major investor of Galaxy, we always support Galaxy in resources consolidation worldwide with the consideration of increasing demand of Lithium, especially in China region. Follows previous tremendous and constant successes Galaxy has achieved, we are appreciate that the management team of Galaxy has done another excellent job in pursuit of good M&A projects."

CRHL is the largest single shareholder in Galaxy, with an 11.78% stake, and the Company's Executive Chairman Yuewen Zheng and Non Executive Director Xiaojian Ren are both Non Executive Directors on the Galaxy Board.



Good luck all.